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Mr. Arthur Yu Chen, Futu's Chief Financial Officer, added, "In celebration of the fifth anniversary of our Nasdaq listing, we are pleased to announce that our board of directors approved a special cash dividend of US$0.25 per ordinary share, or US$2 per American Depositary Share ("ADS"), to holders of ordinary shares and holders of ADSs of record as of the close of business on December 6, 2024, payable in U.S. dollars. The aggregate amount of the special cash dividend to be paid will be approximately US$280 million, which will be funded by surplus cash on Futu's balance sheet."

News

Dividends

FUTU

Futu Holdings Board Approved A Special Cash Dividend Of $2/ADS

Needham analyst Quinn Bolton reiterates ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Buy and maintains $87 price target.

Price Target

Reiteration

Analyst Ratings

Needham Reiterates Buy on ON Semiconductor, Maintains $87 Price Target

Weibo Corp&nbsp;(NASDAQ:&nbsp;WB) reported a&nbsp;fiscal third-quarter&nbsp;revenue growth of 5% year-on-year to $464.48 million, beating the&nbsp;analyst&nbsp;consensus estimate of $435.98 million.&nbsp;The&nbsp;Chinese microblogging social network company&#8217;s revenue grew by 3% year-on-year <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42056242/weibo-announces-third-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">on a constant basis</a>.
Adjusted EPS of 53 cents beat the&nbsp;analyst consensus estimate of 44 cents.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42031958/niu-q3-earnings-scooter-volume-up-but-price-drops-and-margins-tighten-strong-q4-outlook-and-more" rel="noreferrer noopener">Niu Q3 Earnings: Scooter Volume Up, But Price Drops And Margins Tighten, Strong Q4 Outlook And More</a>
The&nbsp;stock price gained after the results.
Weibo&#8217;s&nbsp;advertising and marketing revenues increased by 2%&nbsp;Y/Y at $398.6&nbsp;million. Value-added service (VAS) revenues increased 25%&nbsp;Y/Y&nbsp;to $65.9 million.
Monthly active users (MAUs) were 587 million in September 2024 (<a target="_blank" href="https://www.benzinga.com/news/earnings/23/11/35693913/twitters-chinese-peer-weibos-q3-user-growth-strong-with-maus-topping-605m-but-revenue-falls" rel="noreferrer noopener">vs. 605&nbsp;million&nbsp;Y/Y</a>), while Average daily active users (DAUs) were 257 million (vs. 260 million Y/Y).&nbsp;
The adjusted operating margin declined by 200 bps to 35% as profits remained relatively flat Y/Y.&nbsp;
As&nbsp;of September 30, 2024, Weibo held $2.2 billion in cash and equivalents and generated $124.2 million in operating cash flow during the quarter.
Weibo CEO Gaofei Wang highlighted the company&#8217;s strong quarterly performance, emphasizing efforts to attract and engage high-quality users. The advertising business showed stabilization, with significant revenue growth in key sectors fueled by ad demand during the Summer Olympics.
The value-added services segment also performed well, driven by upgraded membership offerings that enhanced users&#8217; social interactions on the platform.
Weibo&nbsp;stock plunged over 19% year-to-date.
Price Action: WB stock is up 6.35% at $9.05 premarket at the last check on Tuesday.
Photo by Shutterstock
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42016662/nvidia-reveals-3-6-stake-in-applied-digital-stock-soars" target="_blank" rel="noreferrer noopener">Nvidia Reveals 3.6% Stake In Applied Digital, Stock Soars</a></li>
</ul>

Earnings

Equities

Twitter's Chinese Peer Weibo Q3 Earnings: Beats Expectations, Advertising Stabilizes, VAS Growth Shines & More

Needham analyst James Ricchiuti maintains Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) with a Buy and raises the price target from $40 to $46.

Needham Maintains Buy on Symbotic, Raises Price Target to $46

Atour Lifestyle Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAT#NASDAQ">ATAT</a>) reported quarterly earnings of $0.39 per share which beat the analyst consensus estimate of $0.38 by 2.63 percent. This is a 44.44 percent increase over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $270.55 million which beat the analyst consensus estimate of $264.74 million by 2.19 percent. This is a 52.53 percent increase over sales of $177.37 million the same period last year.

ATAT

Atour Lifestyle Holdings Q3 EPS $0.39 Beats $0.38 Estimate, Sales $270.55M Beat $264.74M Estimate

Needham analyst Gil Blum reiterates Rocket Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) with a Buy and maintains $52 price target.

RCKT

Needham Reiterates Buy on Rocket Pharmaceuticals, Maintains $52 Price Target

Needham analyst Mayank Tandon reiterates CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) with a Buy and maintains $100 price target.

CSGP

Needham Reiterates Buy on CoStar Gr, Maintains $100 Price Target

Phillip Securities analyst Helena Wang downgrades Sea (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) from Neutral to Reduce and raises the price target from $80 to $100.

Downgrades

Phillip Securities Downgrades Sea to Reduce, Raises Price Target to $100

Piper Sandler analyst John Barnidge initiates coverage on Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) with a Overweight rating and announces Price Target of $188.

Initiation

Piper Sandler Initiates Coverage On Apollo Global Management with Overweight Rating, Announces Price Target of $188

Piper Sandler analyst Michael Lavery downgrades Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) from Overweight to Neutral and lowers the price target from $40 to $35.

Piper Sandler Downgrades Kraft Heinz to Neutral, Lowers Price Target to $35

Morgan Stanley analyst Tim Hsiao initiates coverage on WeRide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRD#NASDAQ">WRD</a>) with a Overweight rating and announces Price Target of $23.

Morgan Stanley Initiates Coverage On WeRide with Overweight Rating, Announces Price Target of $23

CNBC&#8217;s Jim Cramer said on Monday that he believes reports of President-elect Donald Trump <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">possibly relaxing autonomous driving regulations</a> is a &#8220;bad reason&#8221; for owning Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock. However, the Mad Money host is all for buying the EV giant&#8217;s stock.
What Happened: Bloomberg on Sunday reported that the Trump transition team wants to make a federal framework for self-driving cars, making it easier to deploy self-driving vehicles in the country. However, Cramer thinks that it is &#8220;too good to be true&#8221; and a &#8220;bad reason&#8221; for buying Tesla stock.
"While I don't buy the national self-driving mandate, I think nothing truly dulls the case for owning Tesla," <a href="https://www.cnbc.com/2024/11/18/jim-cramer-says-nothing-truly-dulls-the-case-for-owning-tesla-stock.html">he said.</a> "The Musk premium will work its magic in other ways, perhaps favorable municipalities and Tesla rentals next to federal highways."
The Trump transition team&#8217;s plans for robotaxis are &#8220;just plain fanciful,&#8221; Cramer said while noting that several state and local governments would have to agree to the new rules.
"No matter what, though, always remember that Tesla's a tech company," Cramer added. "The others are automakers, and a tech company can get an insanely high price-to-earnings multiple with no one blinking so much as an eye about it."
Why It Matters: Tesla is looking to deploy a fleet of autonomous vehicles starting next year in Texas and California. However, the company has yet to receive regulatory approvals for the same or achieve vehicle autonomy with its full self-driving (FSD) driver assistance technology. 
Musk, however, has previously expressed optimism that the technology will enable autonomous driving with future software updates. However, the billionaire CEO is known for <a href="https://www.benzinga.com/news/23/07/33477770/elon-musk-has-been-running-on-elon-time-since-he-was-a-kid-i-think-i-do-have-an-issue-with-time-but">providing over-ambitious timelines</a> that the company cannot deliver.
Musk has previously said that Tesla's robotaxi fleet will function like a <a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of" target="_blank" rel="noreferrer noopener">combination of Airbnb and Uber</a>. While a certain portion of the fleet will be owned by Tesla, individual customers can also add or subtract their vehicles to the robotaxi fleet at will. As for riders, they can summon a car using the Tesla App, Musk said, putting Tesla as a <a href="https://www.benzinga.com/news/24/10/41265000/uber-announces-measures-to-ramp-up-electrification-of-its-fleet-ahead-of-teslas-robotaxi-unveil" target="_blank" rel="noreferrer noopener">competitor to Uber.</a>
Price Action: Tesla stock closed 5.6% higher on Monday at $338.74, but it was down 1.2% in premarket trading on Tuesday. Year-to-date, Tesla stock is up 36.4%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42033401/porsche-recalls-nearly-16k-taycan-evs-in-china-citing-fire-risk" target="_blank" rel="noreferrer noopener">Porsche Recalls Nearly 16K Taycan EVs In China Citing Fire Risk</a></li>
</ul>
Photo courtesy: Tesla

Analyst Color

Markets

Tech

TSLA

Jim Cramer Thinks Trump's Plans For Robotaxis Are 'Fanciful,' But He Is Still Bullish On Tesla Stock: 'The Musk Premium Will Work Its Magic In Other Ways'

Stock Split

PRFX

PainReform Announced Monday A 1:4 Reverse Share Split Of The Company's Ordinary Shares To Take Effect After Market Close On Wednesday, November 20, 2024

Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.33 by 6.06 percent. This is a 23.91 percent decrease over earnings of $0.46 per share from the same period last year. The company reported quarterly sales of $2.95 billion which beat the analyst consensus estimate of $2.91 billion by 1.25 percent. This is a 5.57 percent decrease over sales of $3.12 billion the same period last year.

Earnings Beats

VIPS

Vipshop Holdings Q3 Adj EPADS $0.35 Beats $0.33 Estimate, Sales $2.95B Beat $2.91B Estimate

Macro Economic Events

Econ #s

Economics

Eurozone Consumer Price Index (MoM) For October 0.3% Vs. 0.3% Est.; -0.1% Prior

Eurozone Consumer Price Index (YoY) For October 2.0% Vs. 2.0% Est.; 2.0% Prior

Eurozone Core Consumer Price Index (YoY) For October 2.7% Vs. 2.7% Est.; 2.7% Prior

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) faces heightened scrutiny <a href="https://www.benzinga.com/general/market-summary/24/11/42055795/nvidia-shares-to-climb-over-140-levels-says-technical-analyst-ahead-of-q3-results-will-have-to-beat-street-expectations-for-the-trend-to-continue">ahead of its earnings</a> as technical challenges with its latest artificial intelligence chips and broader market pressures raise concerns, according to Mizuho analyst Jordan Klein.
What Happened: Klein, a longtime Nvidia bull, warned investors that the semiconductor giant&#8217;s shares are &#8220;modestly at risk&#8221; following reports of overheating issues in its new Blackwell systems, <a href="https://www.investing.com/news/stock-market-news/biggest-nvidia-bull-on-wall-street-warns-shares-are-modestly-at-risk-3728239?ref=biztoc.com">reported</a> Investing.com. 
The timing is particularly sensitive given Nvidia&#8217;s recent ascent to become the world&#8217;s most valuable company, with a market capitalization of $3.482 trillion.
&#8220;There is just so much quant, passive, and fast momentum money swirling around in markets these days and I assume that style sells first, asks questions later,&#8221; Klein noted in his investor communication, highlighting the volatile nature of current market dynamics.
See Also: <a href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns">Amazon And SpaceX&#8217;s Efforts To Block NLRB Cases In Jeopardy As Appeals Court Raises Key Legal Concerns</a>
Why It Matters: The Blackwell chips, unveiled in March and promising 30 times faster performance than previous generations, have <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">reportedly encountered thermal issues</a> when installed in high-density server racks.
Major customers potentially affected include Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google.
Nvidia has responded to the situation, with a spokesperson telling Reuters that &#8220;engineering iterations are normal and expected&#8221; while working with cloud service providers.
Despite these immediate challenges, Klein maintains his long-term optimistic outlook for Nvidia but cautions about near-term volatility, particularly from retail and momentum-driven investors who &#8220;purely react to headlines and initial stock moves.&#8221;
However, CNBC&#8217;s Jim Cramer offered a contrasting view, suggesting the market&#8217;s reaction might be overdone. &#8220;Be skeptical about the negatives with Nvidia,&#8221; Cramer posted on X. He later <a href="https://www.cnbc.com/2024/11/18/cramer-weighs-nvidia-after-blackwell-ai-chip-overheating-report.html">expanded</a> on CNBC, saying, &#8220;I&#8217;m more inclined to think you&#8217;re getting a buying opportunity in Nvidia thanks to The Information publishing a story that may simply not be that.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Be skeptical about the negatives with Nvidia&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1858515094663012549?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42052735/boeing-to-lay-off-over-2500-workers-in-the-us-amid-global-workforce-reduction">Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction</a></li>
</ul>
Image Via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

AMAT

GOOGL

MSFT

NVDA

Nvidia 'Modestly At Risk' Amid AI Chip Concerns, Analyst Notes: Momentum Money Swirling Around 'Sells First, Asks Questions Later'

Stephens &amp; Co. analyst Jim Salera reiterates Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and maintains $19 price target.

Stephens & Co. Reiterates Equal-Weight on Wendy's, Maintains $19 Price Target

Keybanc analyst Ken Newman maintains Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) with a Overweight and raises the price target from $40 to $48.

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